Close button
The Guardian
Email YouTube Facebook Instagram Twitter WhatsApp

Investment firm targets N12.5 billion capital in Q1 2021


An investment Holding Company, Cititrust Holding Plc said it is targeting a debt capital injection of N12.5 billion for business expansion before the end of the first quarter of 2021.
The company also disclosed its decision to list CFS Group, one of its subsidiaries on the Nigerian Stock Exchange (NSE) in 2021.
According to the Executive Director, Finance and Strategy, Afolabi Martins, the plan is in line with its industry leadership goal in Nigeria and sub-Saharan Africa.
While presenting its roadmap for 2021-2023 at a webinar organised by the company, Martins said the debt facility would be raised via the subsidiaries. He said the development would provide a further fund to re-capitalize expansion across Africa.


“Based on the impressive growth in our loan book, we are poised that the additional fund will enable us to further diversify the earnings base across all subsidiaries,” he said.
According to him, the three-year plan details its operational shifts as it relates to finance, investment and strategy as well as international operation to deliver robust growth by adopting a strategic investment plan and aggressive market penetration.
“For our medium targets, much of the financial impact comes from our focus on employing a small equity base to create larger capital and investments through liability generation, which we believe are largely in our control.

“Our ability to achieve mid-teen returns or higher over a horizon of three years or more will come as investments in our businesses,” he said.
Speaking further, he said its “dividend policy will also be reviewed for approval. All CITITRUST subsidiaries shall endeavour to maintain a dividend payout ratio of 40 per cent. Audit reports are to be conducted on an interim not yearly basis as the dividend will be paid bi-annually.


In this article:
Nigerian Stock Exchange
Receive News Alerts on Whatsapp: +2348136370421

No comments yet